Originally, the Instituto Brasileiro de Governança Corporativa or the Brazilian Institute for Corporate Governance (IBGC) was somewhat less sanguine about the level of corporate governance that had been set.
En un principio, el Instituto Brasileiro de Governança Corporativa (Instituto Brasileño de Gobernanza Empresarial) (IBGC) era algo menos optimista acerca del nivel de gobernanza empresarial que se había establecido.